Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HOUSTON-3M Development Inc. has sold about 24 acres at the intersection of West Little York and Brittmoore roads in Houston to the Four Seasons Business Park Co. Inc. The plan is to expand the existing business park, now encompassing roughly five acres.

Doug Nicholson of Grubb & Ellis Co.’s Houston office tells GlobeSt.com that the sale represents half of 3M’s acreage in the area. The $16-billion diversified technology company, headquartered in St. Paul, is holding onto the balance.

The acquired land abuts the Four Seasons Business Park. George Polk of Polk Real Estate represented the buyer. He cited a confidentiality agreement and declined comment about Four Seasons’ plans, existing and new.

Nicholson, a longtime industrial broker, says the market overall is doing OK despite the tales of woe. Deals are still getting done and absorption is still taking place. “I am not going to buy a new Rolls Royce,” he quips, “but I am comfortable making the payments on my current car.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.